Thanks to a Rat and Mouse reader for this comment on the story of the breeze block landlord, which appeared in yesterday's links. This is the tale of a man fined "a record" £20,000 for renting breeze block bedsits in Hanworth Road, Hounslow, after six years of dodging council requests to serve notice on tenants and remove the extension.

Over to Jim:

I just did a quick calculation - This has been going on since 2001, therefore 6 years= 312 weeks.

5 bedsits at, say £100pw gives gross takings of £156,000.

Subtract building cost of a cheap single-storey breezeblock extension (probably done by mates, cash in hand because no reputable builder would do it without planning permission!) say @30K. Subtract Fines + costs @ £22.5K. That makes a profit of about £100K!

Looks like a profitable business all round. Council sounds chuffed at getting a £20K fine but the owner nets £100K. Is this how the London market works? ;)

Get me the name of that builder immediately...

Technorati Tags: London, property, real estate